Benchmark BSE Sensex dropped further for the 3rd day in the late morning session,moving down 131 points due to persistent selling pressure mainly in auto,metal,IT,Teck and Banking sectors on the back of lower global cues.
The Sensex resumed lower at 21,101.05 and hovered in a range of 21,103.80 and 21,004.89 before quoting at 21,040.69 at 1030hrs,showing a loss of 130.72 points or 0.62 per cent from its last close.
The NSE 50-share Nifty also dropped 42.30 points or 0.67 per cent to 6,265.60 at 1030hrs.
(1.07 pct),Tata Steel (1.05 pct) and
Tata Consultancy Services (TCS) (1.03 pct).
Meanwhile,Asian shares slipped to a four-week low in their early trade on heightened expectations that the Federal Reserve may act sooner than later to unwind its stimulus after a provisional budget deal in Washington eased some of the fiscal drag on the US economy.
Key benchmark indices in Taiwan,South Korea,Indonesia,Singapore,China,Japan and Hong Kong were off 0.11 per cent to 1.57 per cent
US stocks posted their biggest drop in a month yesterday as traders locked in recent gains after Congress announced the provisional budget deal.
Meanwhile,foreign institutional investors (FIIs) bought shares worth net Rs 962.71 crore yesterday as per the data issued by stock exchanges.
Sensex early trade
The BSE Sensex fell 120.35 points to 21,051.06 in early trade today.
Tata Motors falls 1.7 per cent. Since the automaker hit a record high at 405.05 rupees on Nov. 28,its shares had fallen 6.7 per cent as of Wednesday’s close.
Consumer prices were forecast to have risen an 10 per cent annually last month,a Reuters poll showed,barely changed from the 10.09 per cent clocked in October.
Falls also track Asian shares which slipped to a 2-1/2 month low on Thursday on heightened expectations the Federal Reserve may act sooner than later to unwind its stimulus after a provisional budget deal in Washington eased some of the fiscal drag on the US economy.